What are MenaPay's Transactional Flows?
MenaPay has a solid business model, allowing us to deliver cheaper, while also being more engaging than all the traditional payment methods.
We have 3 major income streams coming from transactional flows.
First, individuals pay small transaction fees if they’re making peer-to-peer transactions.
Next, whenever consumers use MenaPay as their payment gateway to purchase something - we call this peer to merchant - the merchants pay the transaction fee on behalf of their customer.
Thirdly, merchants can easily convert their MenaCash into fiat currency, via the MenaPay foundation. We call this transaction type Merchant to Foundation and MenaPay earns a cash-out fee from merchants. Our system is designed to give merchants complete reassurance over speed of payment. Our commitment is to release the merchant's funds within 24 hours, while most traditional payment gateways do not pay in less than 30 days. So, in contrast to other blockchain coins where cash-out is complex and slow because they were never designed for daily use, merchants can get fiat currency from MenaPay faster than from credit cards.
We also have a revolutionary green mining method, called PoMT, proof of Menacash transactions. Clearly the MenaPay platform will become stronger the more consumers prefer MenaPay as their primary payment method and the more they ask merchants to integrate MenaPay. As a reward to the public for this effort, we’ve designed a green mining structure to incentivize this. If any individual makes a peer to merchant transaction, this transaction has a chance of winning a MenaPay token as a reward. The probability of winning is based on an algorithm explained in the white paper. The MenaPay Foundation will purchase MenaPay tokens from the exchanges in order to continuously fill the mining reserve. A certain amount of transaction fee is allocated to purchase MenaPay tokens to continually fill the green mining reserve.
And the last piece of the puzzle in our model is that the MenaPay foundation then shares the majority of its net revenue with its own community. MenaPay tokens are the currency used to share the revenue from the platform with the token-holders. This is unique. Through this self-supporting and incentivized structure, MenaPay will become the most generous fintech business to date and creates a structure that literally allows it to belong to the public.
For more information, www.menapay.io
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